Obama: America won’t be in the economic position it was before I got here

posted at 12:15 pm on April 20, 2010 by Ed Morrissey

On one level, this video from Breitbart and Naked Emperor News doesn’t tell us anything we don’t already know. The American economy isn’t recovering, and won’t any time soon, either. Barack Obama gives this sober assessment on “global rebalancing,” but perhaps doesn’t quite realize that he’s reversing himself on what kind of growth we had prior to his election:

Part of this global rebalancing is that they’re going to have to make some decisions as well about how they are approaching their domestic markets. And, you know, part of the bargain that we’re trying to strike within the G-20 framework is to say, “Look, we’ve got to take on our responsibilities in terms of improving our savings rate. You, on the other hand, have to recognize that a purely export-driven strategy of economic growth is not going to work, in that American consumers are just not going to be in the same position, and the American government is not going to be in the same position, that it’s been in over the last several years.

Remember when Obama used to sneer at the years of economic growth under the Bush administration? Well, apparently we’re not going to get back to even those levels, which Obama dismissed during his presidential campaign. And he’s entirely correct, as long as he continues to pursue the economic policies he’s used for the last fifteen months. That’s not a surprise to anyone who’s paid attention to this administration, except that Obama has finally gotten around to admitting it.

This is similar to Jimmy Carter’s “malaise” speech, except that Obama was smart enough not to deliver this one from the Oval Office.

Blowback

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Comments

So what exactly is he planning to run on in 2012? The economy sucks. Iran has the bomb. Taxes are through the roof. Interest rates are through the roof. Gas is 4 bucks a gallon. Uh, elect me or else we’ll return the failed policies of the last 8 years….errr, I meant the 8 years before the last 4.

Doughboy on April 20, 2010 at 1:24 PM

I don’t know, but whoever is running against him has some great material right here. They better keep it in their back pocket.

And there will probably be riots when some people find out they can’t get their gub’mint health care because it doesn’t start for a few years. No unicorns, either.

Cody1991 on April 20, 2010 at 1:27 PM

I actually am worried about riots. What happens when state and local governments start cutting off the welfare recipients because they’re out of money? Look what happened in Greece. Now imagine that with a younger population and mix in a lot of guns.

Tax and spend is one thing liberals are known for, but borrow and spend to this degree is unprecidented and a roadmap to complete meltdown. Why?

saiga on April 20, 2010 at 1:29 PM

It’s by design. It’s intentional. A society that is controlled by the government through heavy taxation is weak. Zippy wants to destroy the middle class, limit upward mobility and leave governance to the elite, the wealthy, the oligarchs.

That is why health care was such a big deal. Now that they have control of services vital to one’s well being they can wield a tremendous amount of control over our lives.

Remember what the Zero said the other day to his wealthy donors…. ‘You’d think they would say thank you’. Something like that. That is his attitude toward us. We take what we get – from him – and we’re expected to show the proper gratitude.

Remember Uncle Jimmy C. sitting in the Oval Office with his sweater on and thermostat on the wall turned down? Well, Jimmy’s back! Now let us pray for Reagan and his smile and words of encouragement and can-do spirit that wasn’t a political slogan but reality. “Yes we can” has evolved in 1 year to “No, we can’t”.

ObaMao: And, you know, part of the bargain that we’re trying to strike within the G-20 framework is to say, “Look, we’ve got to take on our responsibilities in terms of improving our savings rate.

Whom is he addressing here? If he is talking about individuals, there will be little to save if incomes are eaten up by rising costs and inflation. Taxing the interest on savings and investments does little to incentivize saving.

If he is talking about the government, then his administration and its Dem enablers are not saving. They are on a drunken spending spree with a credit card.

I notice that ObaMao is not wearing his SEIU tie at this meeting, where he is “dazzling” the other side of the bargaining table with his BS.

Has ObaMao considered that a huge cut in corporate taxation and regulation might shift that skewed balance of trade better in our favor?

I actually am worried about riots. What happens when state and local governments start cutting off the welfare recipients because they’re out of money? Look what happened in Greece. Now imagine that with a younger population and mix in a lot of guns.

Doughboy on April 20, 2010 at 1:36 PM

Yep. Considering the real rate of unemployment and the way this administration agitates I think it’s only a question of time. It’s what this guy wants. He doesn’t care who gets hurt. If he truly did, the first order of business would have been job creation. Instead, we get this stinking health care fiasco, massive spending on phony job creation, deficits through the roof while he parties on a the WH and flies around the world bowing and yapping like a fool.

So what exactly is he planning to run on in 2012? The economy sucks. Iran has the bomb. Taxes are through the roof. Interest rates are through the roof. Gas is 4 bucks a gallon. Uh, elect me or else we’ll return the failed policies of the last 8 years….errr, I meant the 8 years before the last 4.
Doughboy on April 20, 2010 at 1:24 PM

Uh, elect me or else we’ll return the failed policies of the last 8 years….errr, I meant the 8 years before the last 4.

Looks like the Democrat National Socialist Party has a great campaign slogan there.

And there will probably be riots when some people find out they can’t get their gub’mint health care because it doesn’t start for a few years. No unicorns, either.

Cody1991 on April 20, 2010 at 1:27 PM

I actually am worried about riots. What happens when state and local governments start cutting off the welfare recipients because they’re out of money? Look what happened in Greece. Now imagine that with a younger population and mix in a lot of guns.

He’s trying to get people in the mindset of accepting mediocrity, i.e., whatever socialism allows them. You saw it already with the NYTimes article a few weeks ago on how people (other than the ruling elites) just couldn’t expect to get all the medical care the wanted, particularly new, expensive ones.

It takes time to turn a free people into junkies dependent on whatever the government allows them (and grateful for the scraps of choice the government allows them), so he’s starting now.

There needs to be a full court press to get his school transcripts and college applications released for public scrutiny. It might just save our Nation.

Key West Reader on April 20, 2010 at 1:31 PM

I agree. I’d love to see what this clown actually studied at Occidental and Columbia. My guess is that it was a lot of nonsense. Much of law school (at least the first three of the six semesters) is standard for everyone at the school. But I’d love to see what electives he took.

Didn’t this clown pay attention to the years of double-digit, long-term unemployment in the European socialist-state model?

onlineanalyst on April 20, 2010 at 1:45 PM

Of course not. And anyway, a lot of Europeans got used to that and would tell you that it’s just spiffy if you asked them. They hardly notice that their standard of living is total crap by comparison with the US. Obama’s just banking on us getting used to that same crappy standard of living. Unfortunately for him, elephants have long memories….

He’s trying to get people in the mindset of accepting mediocrity, i.e., whatever socialism allows them. You saw it already with the NYTimes article a few weeks ago on how people (other than the ruling elites) just couldn’t expect to get all the medical care the wanted, particularly new, expensive ones.

BECK was talking this morning about how the EPA is bonding with the BOYS AND GIRLS CLUBS OF AMERICA (anyone remember his comment about a civilian force bigger and better funded than our military?). Well this actually started back in 1999 (with the code words “ENVIRONMENTAL JUSTICE“). Then if you Google it you can find in 2004 the BUSH Administration EPA accelerated the Environmental justice drive.

BOTH PARTIES want what OBAMA is preaching THAT is why you don’t hear narry a peep out of the GOP (OVER AND OVER AGAIN).

Didn’t this clown pay attention to the years of double-digit, long-term unemployment in the European socialist-state model?

onlineanalyst on April 20, 2010 at 1:45 PM

Sure he did. The European model is exactly what they want to replicate. The Dems are replicating a failed model. That was always the plan.

The hate this country especially a strong, upwardly mobile middle class, and they are hell bent on destroying it. That’s why they malign the Tea Party group. They’re a real threat to the power grab going on in DC.

We are supposed to do what is done in the UK and Europe – shut up and pay taxes. Let the ruling class make the decisions.

“Look, we’ve got to take on our responsibilities in terms of improving our savings rate.

Ya know, Barry O, if you cut taxes like Bush did, we’d have more money to save or invest in 401K’s and buy shares of profitable companies. WE didn’t want to buy General Motors, but YOU bought it with OUR money!

American consumers are just not going to be in the same position, and the American government is not going to be in the same position, that it’s been in over the last several years.

How to avoid this: The U.S. military declares bankruptcy a threat to national security, removes Obama and the Dems from office and hauls them all off to Gitmo.
Well I can dream, can’t I?
RustBelt on April 20, 2010 at 1:51 PM

You know it’s too bad we aren’t like Starfleet in that the Medical officer can declare the Captain of the ship incompetent and intercede in their command decisions.

Everyday those people are getting closer and closer to being certifiably insane.

Maybe that kind of power in the hands of a select group of medial professionals would give the commanding elite of the Democratic National Socialist Party some pause as to what they are really doing to this country.

O.T. Just heard Rush talk about the people stranded because of the volcano & going broke waiting to get back home . If it was me I would go by Train,Boat – or Rental car – . when I have been on planes sometimes I get a feeling of being herded . ” Not Good” I don’t like it – I’m a Tea Party kind-of Guy – “Not a Sheep”

You know, someone has to come out and correct this lie that we have been living with since the 1930′s. Spending cuts are stimulating to the economy — spending suppresses the economy. We are going to keep digging ourselves into economic holes until the truth is widely known.

O.T. Just heard Rush talk about the people stranded because of the volcano & going broke waiting to get back home . If it was me I would go by Train,Boat – or Rental car – . when I have been on planes sometimes I get a feeling of being herded . ” Not Good” I don’t like it – I’m a Tea Party kind-of Guy – “Not a Sheep”

wheels on April 20, 2010 at 2:09 PM

I’ve heard that all of the land transportation is totally booked solid because of the air travel freeze.

You, on the other hand, have to recognize that a purely export-driven strategy of economic growth is not going to work, in that American consumers are just not going to be in the same position, and the American government is not going to be in the same position, that it’s been in over the last several years.

Translation: Since our single minded focus on damaging and controlling the private sector will obviously make our people poorer and more dependent on us, they obviously wont have the economic freedom to purchase your goods.

Great stuff for R campaigns, commercials and stump speeches that should constantly hammer berri with his own loser’s words. Then, summarize with a slogan like:
“Obama’s Hopenchange – America’s Disaster”.